Alcoholic beverages brand Hard Fizz has completed a $2.5 million capital raise, advised by FMCG advisory company Ranged’s new corporate team.
Hard Fizz was co-founded in 2020 by international DJ Paul Fisher, social media influencer Chloe Fisher, current CEO Wade Tiller, and growth marketer Joel Scott, and has had significant social media reach attracting investment.
The brand achieved national retail ranging in Coles Liquor in 2023, and in Endeavour Drinks Group earlier this year. The company has sought funding to capitalise on market demand in these newly acquired retail channels.
The investment was led by Conargo Capital’s Tom Paton and gaming entrepreneur Laurence Escalante of Lance East Office.
Paton has a background of working with influencer-led brands in the food and beverage space, including selling his co-founded brand Keep it Cleaner to Hive Awards winner Openway Food Co, and more recently launching health food brand Simply Wholesome Pantry. Lance East Office has previously invested in FMCG companies including Bae Juice.
“Investing in Hard Fizz is an ideal partnership for Conargo Capital given the brands aggressive growth profile and bold marketing strategy,” said Paton.
“I see no limitations on the brands ability to grow domestically and abroad, especially with the backing of the brand’s co-founders and the exceptional management team.”
Hard Fizz CEO, Wade Tiller, said that this investment provided an opportunity for the company to amplify its brand awareness and meet the increasing customer demand for Hard Fizz products in new retail channels.
“Tom Paton will bring a wealth of experience in high growth FMCG businesses to the Hard Fizz board, and we welcome his and Lance East’s strategic insights and contribution.”
FMCG advisory company Ranged acted as lead advisor on the transaction, led by managing director - Advisory, Joseph Green. This is the first completion of a capital raise process for Ranged under its newly established corporate advisory arm.
“The strong ambassador community and notoriety of the Hard Fizz brand captured investors' attention despite the current economic climate being particularly challenging for small and medium sized brands to raise capital in,” said Green.
“Looking ahead, Ranged has a strong portfolio of disruptive FMCG brands that we anticipate will follow suit and be looking to raise capital over the next 12 months.”
